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TheDumDum Group Title

Find the missing information Original value: 24,500 annual growth factor: 1.06 annual growth rate: time frame: 5 years new value:

  • one year ago
  • one year ago

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  1. amistre64 Group Title
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    might help to include what this pertains to

    • one year ago
  2. TheDumDum Group Title
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    liberal arts

    • one year ago
  3. amistre64 Group Title
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    growth factor and growth rate are synonomous to me, so im not sure what the distinctions would be.

    • one year ago
  4. amistre64 Group Title
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    is the rate in terms of money by chance?

    • one year ago
  5. amistre64 Group Title
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    P(1+rate) where 1+rate is a factor to im assuming the rate is just the .06 part; say 6% ?

    • one year ago
  6. TheDumDum Group Title
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    I don't know I was absent for a week due to the flu and my teacher just gave me all this work and I don't no how to do it, I was hoping there would be a formula to this or something

    • one year ago
  7. amistre64 Group Title
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    you should have some material that you study from, a textbook or something?

    • one year ago
  8. amistre64 Group Title
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    im assuming here that factor and rate are related

    • one year ago
  9. TheDumDum Group Title
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    no we don't have one we take notes in class but I wasn't there to take notes cuz I was sick

    • one year ago
  10. TheDumDum Group Title
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    yes I think

    • one year ago
  11. amistre64 Group Title
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    since the factor is: 1.06 and the factor can be written as: (1+ rate) would you agree that the rate is .06, or 6%?

    • one year ago
  12. TheDumDum Group Title
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    i might if i new how u got that answer

    • one year ago
  13. amistre64 Group Title
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    ... 1 + ? = 1.06

    • one year ago
  14. amistre64 Group Title
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    they give you the factor as 1.06 in the information already

    • one year ago
  15. TheDumDum Group Title
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    o ok that makes since lol sorry

    • one year ago
  16. amistre64 Group Title
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    now the end solution depends on how we are determining the interest rate. simple interest and compounded interest are 2 different beasts. and give 2 different answers.

    • one year ago
  17. TheDumDum Group Title
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    ok im following you so which one do we use to find the new value

    • one year ago
  18. amistre64 Group Title
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    dunno, its not stated in the post that you presented us. That information is prolly either part of the material from which you are spose to be studying from, or you skipped over it while typing in the question

    • one year ago
  19. TheDumDum Group Title
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    i typed the full question, but i have one side question to help me better understand this stuff, if the annual growth rate was 1% would that mean the annual growth factor is 1.01

    • one year ago
  20. amistre64 Group Title
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    that would seem a reasonable assumption to me :)

    • one year ago
  21. TheDumDum Group Title
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    awesome

    • one year ago
  22. TheDumDum Group Title
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    ok well you have been a lot of help thank you for your time

    • one year ago
  23. amistre64 Group Title
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    your welcome if you dont know the kind of interest; you can present both forms and ask the teacher which one it was talking about,

    • one year ago
  24. amistre64 Group Title
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    simple interest is a simple formula: Prt just multiply the starting value by the rate and the time given. in your case: $*.06*5 = new value compound interest can be tricker;\[P(1+\frac rn)^{nt}\] r is the rate, n is the number of times a year the interests is adjusted, and t is the number of years since your problem gives an annual rate, I would assume n=1 in this case. \[P(1+.06)^5=new~value\]

    • one year ago
  25. amistre64 Group Title
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    good luck :)

    • one year ago
  26. TheDumDum Group Title
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    ok thx again

    • one year ago
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